Oppenheimer & Co. Inc. Acquires 16,856 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Oppenheimer & Co. Inc. boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 36.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,219 shares of the technology company’s stock after acquiring an additional 16,856 shares during the period. Oppenheimer & Co. Inc.’s holdings in Trade Desk were worth $6,175,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TTD. Pinnacle Bancorp Inc. grew its stake in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co purchased a new stake in Trade Desk during the 1st quarter valued at about $27,000. Bogart Wealth LLC grew its position in Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Trade Desk during the 2nd quarter valued at about $30,000. Finally, Jones Financial Companies Lllp raised its holdings in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after buying an additional 418 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 1.5 %

NASDAQ:TTD opened at $106.06 on Friday. The business’s 50-day simple moving average is $97.94 and its two-hundred day simple moving average is $92.16. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $107.64. The stock has a market cap of $52.14 billion, a PE ratio of 265.16, a P/E/G ratio of 5.03 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TTD has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a research note on Tuesday, June 11th. Robert W. Baird upped their price target on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 12th. KeyCorp lifted their price objective on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Macquarie restated an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.05.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 599,163 shares of company stock worth $61,246,529. Insiders own 10.18% of the company’s stock.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.